“Peter Misek, the top Apple specialist at Jefferies, has taken a lot of heat lately on two fronts: From investors for his bearish stance on the stock, and from the tech press for starting a basket full of Apple rumors that didn’t pan out,” Philip Elmer-DeWitt reports for Fortune.
“But the truth about Misek is that he’s neither a bear nor a bull,” P.E.D. reports. “He’s a just an impressionable guy who likes to travel a lot, reports just about everything he sees and hears, and comes back believing whatever he was told last.”
P.E.D. reports, “Case in point: The report he filed Monday — after his most recent trip to Asia — in which he flipped his Apple recommendation from Hold to Buy and raised his price target nearly 50%, from $405 (one of the lowest on the Street) to an above-consensus $600. The report was a typical Misek travelog, complete with Japanese iPhone 5S availability posters and a trunkful of industry gossip.”
Read more in the full article here.
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